Cardinal Credit Union hosts Mad City Money scholarship competition

William Tilton, The News-Herald, Willoughby, Ohio
·3 min read

Mar. 11—Mentor-based Cardinal Credit Union is once again co-hosting its annual Mad City Money scholarship competition from March 12 to April 17 across five area high schools.

Notre Dame-Cathedral Latin School, Lake Catholic High School, Eastlake North High School, Mentor High School and Willoughby South High School will each have student teams participating with an opportunity to win up to $10,000 in scholarship money per school for a total of $50,000 across all five schools.

According to a corporate news release, Mad City Money challenges high school seniors with the financial responsibilities of adulthood. During the 90-minute live, in-person competition, teams of students will visit on-site merchants to purchase housing, transportation, food, clothing, day care and other wants and needs, all while building a budget.

Winners are chosen based on their ability to achieve an average balance of $100 as a team and turning in their competition packages within the allotted time frame.

A select number of CCU employees review and score the packets based on math and budgeting skills to determine the winners.

First-place winners will be awarded a grand prize of up to $1,500 for each team member, second-place winners will receive $1,000 each and third-place winners will qualify for $800 each.

"Preparing students for the real world is an important part of the educational process," said Joe Glavan, director of workforce development for Mentor Schools. "At Mentor Schools, we love the way we can engage students in this fun exercise where they can learn a great deal about money management before they reach adulthood.

"Learning to manage money is a critical skill set and one that Mentor Schools believes is essential to preparing our students for their next step in life," he added. "We can't thank Cardinal enough for their commitment to the community and providing just the right level of educational assistance to our students."

The competition will take place at each area high school over the one-month period: Notre Dame-Cathedral Latin School at 1 p.m. on March 12, Lake Catholic High School at 9:30 a.m. on March 15, Eastlake North High School at 10:30 a.m. on April 4, Mentor High School at 9 a.m. on April 11 and Willoughby South High School at 10:15 a.m. on April 17.

"Cardinal Credit Union is thrilled to partner with area high schools for the 14th year in a row as part of our financial education initiatives in Northeastern Ohio," Cardinal Credit Union CEO Christine Blake said. "The Mad City Money Scholarship games are yet another example of how we are meeting our mission to provide financial benefits to the community in a fun, energetic and educational manner."

Students wishing to compete for cash and other prizes can sign up at flowpage/mcmpage.

CCU offers integrated financial education programs to five area high schools and Lakeland Community College, where it operates several in-school branches.

Cardinal Credit Union is a 71-year-old independent, member-owned not-for-profit financial cooperative that offers a broad range of banking products and services including checking accounts, CDs, credit cards, auto loans, debt-consolidation loans, mortgages and more.